# High-temperature batteries: Economics

How falling lithium prices ended a 20-year product line

Source page: https://www.materialinsights.org/energy/e_hightemp_batt/sg-econ/

What this tab covers Economics and financial structure: capital versus operating cost, levelised cost of storage, and how the asset earns money.

NaS was once cheaper per kWh than lithium-ion for 6-hour storage, but falling lithium-ion prices and rising material costs led NGK to decide on 31 Oct 2025 to end NaS manufacturing and sales. ZEBRA-type cells survive in niche backup markets.

#### Capex versus opex
Unfavourable

No recent public NaS price was found. EASE's 2016 range was EUR 400 to 600 per kWh and EUR 3,000 to 4,000 per kW, which is now well above lithium-ion. Operating costs include heater energy and a paid four-yearly inspection; routine visual checks do not require shutdown. NGK expects about JPY 18 billion (about USD 117 million) of extraordinary losses on exiting, in the year to March 2026, citing material costs and lithium-ion competition.^[1](https://www.pv-magazine.com/2025/11/05/japans-ngk-discontinues-manufacturing-of-sodium-sulfur-batteries/)^[2](https://promo.basf.com/Documentos/BASF_NAS_Brochure (1).pdf)^[4](https://energystorageeurope.eu/wp-content/uploads/2016/03/EASE_TD_NaS.pdf)
 NaS cost (2016) EUR 400-600/kWh; EUR 3,000-4,000/kW^[4](https://energystorageeurope.eu/wp-content/uploads/2016/03/EASE_TD_NaS.pdf) NGK exit charge About JPY 18 billion (USD 117 million)^[1](https://www.pv-magazine.com/2025/11/05/japans-ngk-discontinues-manufacturing-of-sodium-sulfur-batteries/)

#### Levelised cost of storage
Unfavourable

BASF claimed in 2023 that NaS had the lowest initial capex and LCOS of any technology for 6 to 10 hour projects, but published no figures. NGK's 2025 statement said lithium-ion could now efficiently supply 8 hours or more. Lazard's 2026 benchmark for US standalone 4-hour lithium-ion is USD 210 to 292/MWh, up from USD 115 to 254/MWh in 2025 because of US tariffs on Chinese cells. No independent NaS LCOS for 2024 to 2026 was found.^[1](https://www.pv-magazine.com/2025/11/05/japans-ngk-discontinues-manufacturing-of-sodium-sulfur-batteries/)^[3](https://assets-002.noviams.com/novi-file-uploads/naatbatt/Workshop_Materials/Zinc/2023/9_Florian-Dotz_FINAL-UPDATE-NAATBatt-Houston_Nov30th-2023.pdf)^[13](https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf)^[17](https://www.lazard.com/media/uounhon4/lazards-lcoeplus-june-2025.pdf)
 US lithium-ion LCOS, 100 MW / 4 h (2026) USD 210-292/MWh (USD 115-254/MWh in 2025)^[13](https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf)^[17](https://www.lazard.com/media/uounhon4/lazards-lcoeplus-june-2025.pdf)

#### Revenue stack and market participation
Mixed

NaS systems have been used for renewable energy shifting, transmission and distribution management, load levelling, frequency regulation and microgrids; they respond within about 1 ms. Their 6-hour design suits daily arbitrage and capacity products. ZEBRA's niche is standby and backup power, where tolerance of ambient temperatures from -40 to 65 C without air conditioning, no hydrogen off-gassing and long storage life (all Fuji Electric claims) matter more than efficiency.^[2](https://promo.basf.com/Documentos/BASF_NAS_Brochure (1).pdf)^[7](https://smbe.fujielectric.com/salt-battery)^[10](https://www.energy-storage.news/ngks-nas-sodium-sulfur-grid-scale-batteries-in-depth/)
 Response time About 1 ms^[10](https://www.energy-storage.news/ngks-nas-sodium-sulfur-grid-scale-batteries-in-depth/) Abu Dhabi virtual plant 108 MW / 648 MWh^[2](https://promo.basf.com/Documentos/BASF_NAS_Brochure (1).pdf)

#### Sources

1. [Japan's NGK discontinues manufacturing of sodium-sulfur batteries (5 Nov 2025)](https://www.pv-magazine.com/2025/11/05/japans-ngk-discontinues-manufacturing-of-sodium-sulfur-batteries/) pv magazine / ESS News, 2025
2. [NAS Battery: product sheet (container specifications and references), dated 02/2024](https://promo.basf.com/Documentos/BASF_NAS_Brochure (1).pdf) BASF Stationary Energy Storage, 2024
3. [Sodium Sulfur Batteries NAS for Large Stationary Storage Applications: The time is right! (F. Dötz, NAATBatt Sodium Zinc Battery Workshop, Houston, 30 Nov 2023)](https://assets-002.noviams.com/novi-file-uploads/naatbatt/Workshop_Materials/Zinc/2023/9_Florian-Dotz_FINAL-UPDATE-NAATBatt-Houston_Nov30th-2023.pdf) BASF Stationary Energy Storage / NAATBatt, 2023
4. [Energy storage technology description: Sodium-Sulphur (NaS) battery](https://energystorageeurope.eu/wp-content/uploads/2016/03/EASE_TD_NaS.pdf) European Association for Storage of Energy (EASE), 2016
5. [Salt Battery (sodium metal chloride): product page (manufacturer claims)](https://smbe.fujielectric.com/salt-battery) Fuji SMBE (Fuji Electric group), 2025
6. [NGK's NAS sodium sulfur grid-scale batteries in depth](https://www.energy-storage.news/ngks-nas-sodium-sulfur-grid-scale-batteries-in-depth/) Energy-Storage.news, 2016
7. [Lazard's Levelized Cost of Energy+ (LCOE+), July 2026 (LCOS v11.0 key assumptions p. 38; LCOE v19.0 assumptions p. 28)](https://www.lazard.com/media/kcfconhf/lazards-lcoeplus_vf.pdf) Lazard, 2026
8. [Lazard's Levelized Cost of Energy+ (LCOE+), June 2025 (LCOS v10.0 Appendix B p. 43)](https://www.lazard.com/media/uounhon4/lazards-lcoeplus-june-2025.pdf) Lazard, 2025

## Other sections

- [Summary](https://www.materialinsights.org/energy/e_hightemp_batt/index.md)
- [Overview](https://www.materialinsights.org/energy/e_hightemp_batt/overview/index.md)
- [Correlation](https://www.materialinsights.org/energy/e_hightemp_batt/correlation/index.md)
- [Science and technology](https://www.materialinsights.org/energy/e_hightemp_batt/sg-sci/index.md)
- [Engineering and performance](https://www.materialinsights.org/energy/e_hightemp_batt/sg-eng/index.md)
- [Impact and additionality](https://www.materialinsights.org/energy/e_hightemp_batt/sg-impact/index.md)
- [What to track](https://www.materialinsights.org/energy/e_hightemp_batt/tracking/index.md)
- [Relationships](https://www.materialinsights.org/energy/e_hightemp_batt/links/index.md)